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KevinPocovi

Argentine Peso going to shit (deeper shit)?

Short
U.S. DOLLAR / ARGENTINE PESO (FX_IDC:USDARS)  
KevinPocovi Updated   
FX_IDC:USDARS   U.S. DOLLAR / ARGENTINE PESO
Chart Patterns Trend Analysis Beyond Technical Analysis
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chartpattern trendanalysis beyondta
Just breaking out of a bull pennant continuation pattern with lots of FUD in the economy. Been inside a parabolic channel for the past year, and will likely test the channel's resistance next at aprox. 50 pesos.

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Will Macri's popularity be enough to stay in presidency for another term if this scenario plays out...?
Comment:
Argentine Peso taking off. Daily candles showing higher lows and higher highs. TP1 = 48, TP2 = 54

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Comment:
Here's weekly candles. Three last weeks closed on the rise, and the latest shows some nice accumulation. MACD also showing increasing bullish momentum.

This week could be brutal.

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Comment:
IMF released 10B USD to Argentina plus local agricultural commodity exporters liquidate their dollars... the bull run is temporarily delayed.
Comment:
The Central Bank no longer publishes its interventions to keep their strategy secret. Wonder if they're flooding the market with dollars right now...

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